NovoCure (NASDAQ:NVCR) Director Timothy Scannell Sells 2,945 Shares of Stock

NovoCure Limited (NASDAQ:NVCR) Director Timothy Scannell sold 2,945 shares of the business’s stock in a transaction on Tuesday, June 2nd. The shares were sold at an average price of $15.77, for a total transaction of $46,442.65. Following the transaction, the director owned 14,288 shares in the company, valued at $225,321.76. This trade represents a 17.09% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The sale was made to cover tax withholding obligations related to the vesting of equity awards.

NovoCure Trading Up 2.1%

NVCR stock opened at $16.15 on Thursday. The company has a quick ratio of 2.70, a current ratio of 2.90 and a debt-to-equity ratio of 0.71. NovoCure Limited has a twelve month low of $9.82 and a twelve month high of $19.25. The stock has a market capitalization of $1.87 billion, a price-to-earnings ratio of -10.56 and a beta of 0.93. The firm’s fifty day simple moving average is $14.16 and its two-hundred day simple moving average is $13.14.

NovoCure (NASDAQ:NVCR) last posted its quarterly earnings data on Thursday, April 30th. The medical equipment provider reported ($0.62) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.51) by ($0.11). The firm had revenue of $174.06 million for the quarter, compared to the consensus estimate of $167.77 million. NovoCure had a negative net margin of 25.66% and a negative return on equity of 50.82%. The company’s revenue was up 12.3% on a year-over-year basis. During the same quarter last year, the firm earned ($0.31) EPS. As a group, analysts anticipate that NovoCure Limited will post -1.55 earnings per share for the current year.

Institutional Trading of NovoCure

A number of large investors have recently made changes to their positions in the stock. AQR Capital Management LLC grew its holdings in NovoCure by 56.7% during the 1st quarter. AQR Capital Management LLC now owns 28,728 shares of the medical equipment provider’s stock worth $512,000 after acquiring an additional 10,394 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in NovoCure by 3.5% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 74,992 shares of the medical equipment provider’s stock worth $1,336,000 after acquiring an additional 2,502 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in NovoCure by 5.5% during the 1st quarter. Goldman Sachs Group Inc. now owns 993,670 shares of the medical equipment provider’s stock worth $17,707,000 after acquiring an additional 52,180 shares in the last quarter. Acadian Asset Management LLC bought a new position in NovoCure during the 1st quarter worth about $87,000. Finally, Prudential Financial Inc. bought a new position in NovoCure during the 2nd quarter worth about $216,000. 84.61% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NVCR has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their target price on shares of NovoCure from $13.50 to $17.00 and gave the company an “equal weight” rating in a research note on Monday, May 4th. Weiss Ratings raised shares of NovoCure from a “sell (e+)” rating to a “sell (d-)” rating in a research note on Monday. Evercore reissued an “outperform” rating on shares of NovoCure in a research note on Friday, May 1st. HC Wainwright boosted their target price on shares of NovoCure from $47.00 to $49.00 and gave the company a “buy” rating in a research note on Thursday, February 26th. Finally, Wedbush reissued a “neutral” rating and set a $18.00 target price on shares of NovoCure in a research note on Thursday, April 16th. Four equities research analysts have rated the stock with a Buy rating, three have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $27.29.

About NovoCure

NovoCure is a global oncology company pioneering Tumor Treating Fields (TTFields), a novel anti-mitotic therapy for solid tumors. The company’s non-invasive treatment platforms deliver low-intensity, alternating electric fields designed to disrupt cancer cell division. NovoCure’s approach offers an alternative modality to complement existing therapies in oncology, with a focus on hard-to-treat malignancies.

Founded in 2000 and headquartered in Haifa, Israel, NovoCure maintains a second operational center in Portsmouth, New Hampshire.